Ashish Chauhan: NSE India IPO Is 100% OFS, Will Not Be Listed On NSE.
Ashish Chauhan, CEO of the National Stock Exchange of India (NSE), has highlighted two critical aspects about the NSE's planned IPO.
1. The NSE IPO would be 100% OFS (Offer for Sale).
The IPO will not create any new shares.
Only existing shareholders will be able to sell their shares to the public.
The funds raised will benefit the selling shareholders rather than the NSE.
2. NSE shares will not be listed on their own exchange.
Reason:
Due to a potential conflict of interest, Indian regulations prohibit a stock exchange from listing and regulating itself.
The NSE will most likely list on another recognized Indian market, such as BSE Limited.
3. Status of the NSE IPO
SEBI has granted a No-Objection Certificate (NOC) for the IPO process.
The NSE is anticipated to file the DRHP quickly and appoint investment bankers.
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